NYDIG Leads $5M Funding Round for Mining Firm Luxor

Additional investors in the Series A round include: Bitnomial, Hodl Capital and Routemaster.

article-image

Luxor CEO and founder Nick Hansen

share

key takeaways

  • NYDIG will collaborate with Luxor on a number of mining-related ventures and hashrate-based products
  • Luxor has plans in store to supercharge returns for bitcoin miners

Luxor Technologies, a bitcoin mining firm, raised $5 million in a Series A funding round, the company announced in a press release this week.

“Luxor has been running for quite a while. [However], this is going to give us the catalyst we need to start sprinting,” CEO and founder Nick Hansen said in an interview with Blockworks.

NYDIG, who led the funding round, will collaborate with Luxor on a number of mining-related ventures and hashrate-based products, according to the announcement.

Hansen said that NYDIG, the digital asset subsidiary of Stone Ridge Asset Management, and Luxor have big plans in store to supercharge returns for bitcoin miners as well. 

“At Luxor, we view hashrate as an asset class as itself, meaning that it has some value that changes overtime and we would like to be able to give miners the ability to hedge that asset,” Hansen said.

Some noteworthy investors in the Series A round include: Bitnomial, Hodl Capital and Routemaster. 

“We’re pleased to lead this Series A funding round and are thrilled to partner with Luxor to develop first-of-their-kind products and competencies for North American miners,” said NYDIG CEO and co-founder Robert Gutmann in the release.

Luxor has initially raised $725,000 in a pre-seed round in February.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

As Satoshi-era wallets saw over $8 billion worth of BTC on the move, Congress is gearing up for “Crypto Week”

article-image

Bitcoin’s runaway success was partly driven by Slashdot

article-image

Blockworks Research data shows that VC spending is back on the rise after a slow May

article-image

After rejecting a bid from the AI cloud-computing startup last year, Core Scientific agreed to be acquired in a deal expected to close by Q4 2025

article-image

Sponsored

Plume’s collaboration with TRON will unlock cross-chain RWA yield for one of the world’s largest blockchain ecosystems

article-image

Who needs gold when you have taxes?